Wednesday, Jun 15, 2011
KUALA LUMPUR (Dow Jones)--Malaysia's central bank said Wednesday the Ministry of Finance has approved Bahrain's Elaf Bank to conduct international Islamic banking business in Malaysia.
"Elaf Bank is allowed to conduct a wide array of Islamic banking business in international currencies other than Malaysian ringgit," Bank Negara Malaysia said in a statement.
"Elaf Bank's presence will further strengthen the economic and financial linkages between Malaysia and Bahrain and contribute further to the development of the Islamic financial system in Malaysia," the statement added.
-By Ankur Relia; Dow Jones Newswires; 603-2026-1233; ankur.relia@dowjones.com
(END) Dow Jones Newswires
15-06-11 0726GMT
